Office Depot Inc. Profit Retreats 41% In Q2

(RTTNews) - Office Depot Inc. (ODP) announced earnings for second quarter that decreased compared to the same period last year.

The company said its profit came in at $19 million, or $0.03 per share. This was lower than $32 million, or $0.06 per share, in last year's second quarter.

Analysts had expected the company to earn $0.06 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.5% to $3.32 billion. This was down from $3.44 billion last year.

Office Depot Inc. earnings at a glance:

-Earnings (Q2): $19 Mln. vs. $32 Mln. last year. -Earnings Decline (Y-o-Y): -40.6% -EPS (Q2): $0.03 vs. $0.06 last year. -EPS Decline (Y-o-Y): -50.0% -Analysts Estimate: $0.06 -Revenue (Q2): $3.32 Bln vs. $3.44 Bln last year. -Revenue Change (Y-o-Y): -3.5%